Pure Global Cannabis Inc. (TSX.V:PURE; OTC: PRCNF), a vertically-integrated, growth-oriented life sciences cannabis company, is pleased to announce that its wholly-owned subsidiary, PureSinse Inc., has received approval for an amendment to its licence from Health Canada under the Access to Cannabis for Medical Purposes Regulations, to include the activity of possession of cannabis oil, resin, and relevant activities.
PureSinse’s license under the ACMPR was amended August 24, 2018, allowing the company to source bulk psychoactive and non-psychoactive cannabis oils along with resins from national and international licensed producers that meet Pure Global’s high quality standards. The next step will be to receive Health Canada approvals to process, package, and sell cannabis oil-based products.
The Company anticipates that PureSinse will be granted a cannabis oils production and processing licence by the end of 2018 and subsequent oils sales licence in early 2019. Upon final licensing approval, PureSinse will have the ability to sell cannabis oil products to registered patients under the ACMPR, for adult legal use under the Cannabis Act, and for export purposes, along with its current dried medical cannabis products.
“This license is instrumental for PURE’s ability to initiate revenue generation from oils in the coming quarters, while driving our product innovation, amplifying our intellectual property portfolio, and propelling our research and development mandates for cannabis oils-based products. The Company will look to secure long-term supply agreements for bulk dried flower, extractable trim, and now for cannabis and cannabidiol (CBD) distillates, isolates, and extracts, for processing, packaging, and distribution,” said Pure Global President & CEO Malay Panchal. “We will immediately be applying for our oils production and processing licences to accelerate the development and formulation of cannabis oils products such as gel capsules, tinctures, sublinguals, and transdermal dosage forms,” added Mr. Panchal.